YILI ACHIEVES STEADY GROWTH IN NET PROFIT, GROSS REVENUE FOR 2023

KUALA LUMPUR, May 10 (Bernama) -- Yili Group posted a net profit attributable to the parent company of 5.923 billion Chinese yuan and a total operating income of 32.577 billion Chinese yuan, for the first quarter of 2024. (100 Chinese yuan = RM65.59)

Meanwhile, for financial year 2023, its net profit attributable to the parent company and total operating income reached 10.429 billion Chinese yuan and 126.179 billion Chinese yuan, respectively, marking 31 consecutive years of steady growth.

In a statement, the group also announced a plan to repurchase shares worth no less than one billion Chinese yuan but no more than two billion Chinese yuan, in which these shares will be entirely cancelled to reduce the company's registered capital.

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During the reporting period, Yili's entire range of products remained industry-leading with its liquid milk business generating an operating income of 85.54 billion Chinese yuan, maintaining its top position in both scale and market share.

Its milk powder and dairy products recorded 27.598 billion Chinese yuan in revenue, up 5.09 per cent year on year, and overall milk powder sales rose to the top of the Chinese market, while the cold beverage business increase 11.72 per cent to 10.69 billion Chinese yuan from the previous year, retaining its market leadership for the 29th consecutive year.

The overseas business also performed well, which increased by 10.08 per cent year on year, with products sold to over 60 countries and regions, in 2023.

Additionally, Yili has continuously improved and optimised its global supply chain network, achieving efficient synergy between its domestic and overseas bases. This capacity breakthrough is driven by innovative technological advancements that have spurred the transformation of research into tangible results.

In 2023, Yili made continuous breakthroughs in cutting-edge technologies, quickly translating these innovations into products that have set new trends in healthy consumption, and these innovative achievements stem from the company's long-term investment in technology.

As an industry leader, Yili is not only achieving steady business growth but also emphasising a sustainable future, actively promoting green and sustainable development, contributing to environmental protection and public welfare, and striving to create a win-win situation in economic, social, and environmental benefits.

-- BERNAMA